What do you think is happening with the product, the price of which is growing rapidly, and which can be quickly resold at a higher price? That's right, more and more people want to buy it, then sell more.
That is, the true value of the goods here does not matter. It all depends solely on how many new people are ready to buy, in order to later resell more. Such a rise in prices is called a financial soap bubble.
Financial bubbles arose always, and at all times. As early as 1636 there was a so-called "tulipanomania" or "tulip fever". There, prices for bulbs of tulips grew even faster than today's bitcoins.
And also simply because a lot of people wanted to buy them not in order to benefit from their purchase (to grow for their enjoyment or to eat), but for the fact that the next day to resell more.
Topic: Another reason for Bitcoin price high - page 2. (Read 386 times)
Aside from the looming prospect of regulation, a series of high-profile thefts have also had a hand in the sudden rapid dips in value bitcoin and its rivals have experienced - the most recent of which was a failed raid on the Binance cryptocurrency exchange.
The volatile cryptocurrency’s price has shifted wildly ever since mid-December - when it hit a record high of more than $19,850 (£14,214) - with frequent heavy drops and speedy recoveries. Its price plummet back to earth in January and February, as governments and central banks around the world raised the spectre of future regulation.
i think i denied that, it can be haram if we thingking is a gamble
many muslim calling investment are haram because it profit it can reach 90% and thats riba by using benifit from people who need it
and when thingking about investment i think they don't have a neg issues, and if is win a win chance i think is still good after all
many muslim calling investment are haram because it profit it can reach 90% and thats riba by using benifit from people who need it
and when thingking about investment i think they don't have a neg issues, and if is win a win chance i think is still good after all
People are confusing the religion with the currency,the islam says lending the money is prohibited but we are not lending or getting any interest from bitcoin unless we lend them,the value of bitcoin itself increases in the short time so we can't consider this as a interest from our investment.But still people are saying it is haram to use bitcoin such an stupidity some of my friends were not agreeing this bitcoin can be used by muslims too,the time will tell them and this might be an answer to their stupidity.
let people say what, there are still a lot of people who say that bitcoin is haram, but it is up to them to say what, many Muslims say it like that, maybe they do not know about bitcoin, here we use capital and for we getresults or profits from trading or investment results, so I consider it all kosher.
Recently there have been no FUDs, no news of bans and I think the panic sellers have finally ran out of coins to sell so now people are actually buying into the market with a bit more confidence than before.
I always thought this was April Fool's Day news. But Bitcoin fell from 19,000 to 6,000, and now it has risen to 8,000. Overall, I think it is in a relatively low position. However, if you are a Bitcoin supporter, you don't have to be too serious about the news. Bitcoin's value comes from consensus, not from a specific group of people.
I have always been saying that after a large surge up (19k) there must be a dip (6k) and then a rise (now) and possibly more dips. There is no reason to look for other explanations behind it.On the other hand, the news from the OP is a great prognostic long term, as it basically states that there will possibly be 23% more people who will eventually adopt bitcoin.
People are confusing the religion with the currency,the islam says lending the money is prohibited but we are not lending or getting any interest from bitcoin unless we lend them,the value of bitcoin itself increases in the short time so we can't consider this as a interest from our investment.But still people are saying it is haram to use bitcoin such an stupidity some of my friends were not agreeing this bitcoin can be used by muslims too,the time will tell them and this might be an answer to their stupidity.
I had to agree that one of the factor involving any rise in cryptocurrency is the good news that involves crypto market.
Not only the good news but new useful options of how to use cryptocurrency in our life. New researches and developments, some kind of progress, new fresh ideas and start-ups. All of this is boosted by cryptocurrencies and Bitcoin is one of the main catalysator.
Bitcoin prices are very volatile and have a high enough fluctuation to generate high profits also per day must have been much use of Bitcoin growing rapidly and certainly also encourage the stability of bitcoin prices 
There is always a reson's that bitcoin price high. We cannot tends when will it will be soaring high once demands is present it may surges up. Good news come out and it is the reason's most awaited for the bitcoin price to hogh. I had to agree that one of the factor involving any rise in cryptocurrency is the good news that involves crypto market. In my understanding,
due to many people investing bitcoin that creates a greater demand on bitcoin and alts could lead to the price increase just like the law of supply and demand in economics.
Bitcoin prices are very volatile and have a high enough fluctuation to generate high profits also per day must have been much use of Bitcoin growing rapidly and certainly also encourage the stability of bitcoin prices
There is always a reson's that bitcoin price high. We cannot tends when will it will be soaring high once demands is present it may surges up. Good news come out and it is the reason's most awaited for the bitcoin price to hogh.
I always thought this was April Fool's Day news. But Bitcoin fell from 19,000 to 6,000, and now it has risen to 8,000. Overall, I think it is in a relatively low position. However, if you are a Bitcoin supporter, you don't have to be too serious about the news. Bitcoin's value comes from consensus, not from a specific group of people.
people aren't just sitting around for someone to tell them whether to buy bitcoin or not then rush to buy it if they were allowed!
those who wanted to buy bitcoin have already been doing it regardless of this news. and it was so easy to seek advice from religion experts and ask them whether bitcoin is "halal" or not and as i said those who wanted to invest have already been doing it and will continue to do so.
with that said i don't see any relationship between this news and the rise, it may lead to further rises down the road but not immediately.
those who wanted to buy bitcoin have already been doing it regardless of this news. and it was so easy to seek advice from religion experts and ask them whether bitcoin is "halal" or not and as i said those who wanted to invest have already been doing it and will continue to do so.
with that said i don't see any relationship between this news and the rise, it may lead to further rises down the road but not immediately.
Bitcoin prices are very volatile and have a high enough fluctuation to generate high profits also per day must have been much use of Bitcoin growing rapidly and certainly also encourage the stability of bitcoin prices
High bitcoin prices are caused because investors in the world are now increasingly believing in cryptocurrency with the development of cryptocurrency technology and the stability of some of the main cryptocurrency prices have contributed to this confidence. Rejection in some countries, including in China, has not succeeded in shedding investor confidence.
Some predictions say that the Bitcoin movement will not stop at $ 10,000, because next year will be many Institutional Investors who will enter the market Bitcoin with a giant fund.Some predictions say that the Bitcoin movement will not stop at $ 10,000, because next year will be many Institutional Investors who will enter the market Bitcoin with a giant fund.
This is surely one of the reasons why there is a surge in price but not the only reason because Muslims are already involved as the interpretation to them is bitcoin is same as money as money in itself is not sin or unislamic but what is being used for. So also is bitcoin, for someone who trade in bitcoin made money then convert to fiat which is then used to go to Hajj or help the poor. I don't think such individual needs anybody to tell him what he is doing is bad or good.
Bitcoin price going up has always being dependent on the ratio of demand to supply. The price is going up now because a lot of people have stopped panic selling and people are actually buying into the market which is increasing demand which in turn increases the prices. I guess there are other factors that could make the price go up but this is the major factor.
According to my understanding as a Muslim, bitcoin is better than banking that takes advantage of borrowing customers, banks always charge interest on every borrower's payment both monthly and yearly. In Islam, the interest is obviously included "riba". While bitcoin, never wear any interest whether borrowers, sellers, or investors. With that, I prefer bitcoin rather than banking whose system is clearly violating economic laws in Islam.
I don't see any difference in banks charging interest over fiat loans, and banks charging interest over Bitcoin loans. Fiat and Bitcoin are both tools used or abused by whatever market participant. In that regard, I don't really understand what you are trying to aim at. To add even more, I think it's safe to say that the banking system per definition isn't any better or worse than how people currently deal with exchanges and online wallet services. It's all the same; people are subject to the same level of centralization, but they for whatever reason don't consider it to be the same. At a later point in the future, financial institutions will probably try to acquire as much of the centralized crypto ecosystem as possible, so the cycle is repeating itself. Centralization, regardless of its shape or form, will always remain centralization.
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